Missouri Laws 475.094 – Conservator, authorized exercise of powers

475.094.Conservator, authorized exercise of powers. — 1. After notice to interested persons and upon express authorization of the court, a conservator may:

Terms Used In Missouri Laws 475.094

conservator: as used in this chapter , includes limited conservator unless otherwise specified or apparent from the context. See Missouri Laws 475.010

Interested persons: spouses, children, parents, adult members of a ward's or protectee's family, creditors or any others having a property right or claim against the estate of a protectee being administered, trustees of a trust of which the ward or protectee is a beneficiary, agents of a durable power of attorney for a ward or protectee, and children of a protectee who may have a property right or claim against or an interest in the estate of a protectee. See Missouri Laws 475.010

person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Missouri Laws 1.020

Protectee: a person for whose estate a conservator or limited conservator has been appointed or with respect to whose estate a transaction has been authorized by the court under section Missouri Laws 475.010

(1) Make gifts that the protectee might have been expected to make including, but not limited to, gifts to qualify for government benefits or to reduce federal estate taxes;

(2) Convey, release, or disclaim contingent and expectant interests in property, including marital property rights and any right of survivorship incident to joint tenancy or tenancy by the entireties;

(3) Exercise or release a power of appointment;

(4) Create a revocable or irrevocable trust of property of the estate, whether the trust extends beyond the duration of the conservatorship, or revoke or amend a trust revocable by the protected person;

(5) Exercise rights to elect options and change beneficiaries under insurance policies and annuities or surrender the policies and annuities for cash value;

(6) Exercise any right to an elective share in the estate of the protectee’s deceased spouse and to renounce or disclaim any interest by testate or intestate succession or by transfer during lifetime.

2. The court, in exercising or in approving a conservator‘s exercise of the powers listed under subsection 1 of this section, shall consider primarily the decision that the protectee would have made, to the extent that the decision can be ascertained. The court shall also consider:

(1) The financial needs of the protectee and the needs of individuals who are in fact dependent on the protectee for support and the interest of creditors;